U.S. weekly jobless claims increase, says Dept. of Labor

The U.S. economy continues to cool.

COLUMBIA, S.C. (CNN)— The U.S. economy continues to cool.

The Department of Labor reports first-time jobless claims have increased.

It says 228,000 people applied for the benefits last week which is above economists’ expectations of 200,000.

According to the Labor Department, weekly jobless claims are now hovering around pre-pandemic levels.

In 2019, they averaged 218,000.

The Federal Reserve has been hoping the labor market would soften to help ease the pressure of inflation.